Host & Realtor Diane Brennan tours a Penthouse at the Scottsdale Waterfront in Old Town Scottsdale. Listed at just below $5,000,000, this property is almost 4,000 square feet with three bedrooms, 3.5 baths and a media den.

The Waterfront area is the gateway to all the things Old Town has to offer. Great nightlife with restaurants, live music, and bars are all close by. The area has great shopping with numerous specialty shops. The location is enjoyed by tourists and locals alike. Come spring, with fantastic weather and spring training, the Waterfront is the place to be.

Diane visits with Scottsdale Waterfront developer Fred Unger who was instrumental in the revitalization of the Scottsdale Waterfront. Find out why Unger was so interested in developing this area. Listen how during the recession, Unger says it was difficult to launch a project. But it was important to do something that had unique architecture, independent retailers, and restaurants. It was important to create something that had a sense of place where people from all over the world would enjoy visiting.

If you're thinking about living at the Scottsdale Waterfront, here are amenities you can enjoy:

A rooftop pool and spa with stunning views and a kitchen with two barbeques

A complete gym located on the second floor with steam sauna and locker rooms

A first floor club room where residents can host anything from a wedding to a business function, or just sit back, relax and enjoy TV

Valet parking or self-parking

Full-time concierge

Diane talks air conditioning with Leonard Frederick, owner of Frederick & Sons. The company is a family owned and operated business servicing mainly the east side of the Valley. Frederick & Sons is a full-service company taking care of all AC needs including repair, maintenance, and sales.

Here are some tips...

Change the filter monthly regardless of what the packaging says. A clean filter helps the unit run more efficiently and helps keep the coils clean.

Have the unit serviced seasonally, winter and summer, to keep the components at the right settings. It saves on energy and keeps the equipment in top shape.

The inspection checks the freon levels, amp draws on fan motors, and compressor and tolerance levels of run capacitors. An inspection is $39.95 and is important to maintaining the life of the unit.

Along with maintaining the heating and cooling of a home, roof maintenance is important. When it’s time for a new roof, selecting the right contractor is extremely important.

Diane asks Lori Clark, Owner of Right Way Roofing, to offer some tips on choosing a roofing contractor:

First and foremost make sure they’re licensed and bonded. Homeowners can verify if they have a valid contractor’s license and see complaint history by checking with the Arizona Registrar of Contractors, www.azroc.gov.

Check online referral sites.

Ask the company for a list of their happy customers and call prior customers.

Make sure the estimate/contract details exactly what the company is going to do, states what products they will be using, and ask for samples of the product to be used.

Go on the website of the product and make sure the warranty of that product matches the warranty the contractor has stated in the estimate/contract.

At Fairway Mortgage, Diane talks to VP and branch manager, Jon Tobias, about what the continued low mortgage rates mean for homeowners thinking about refinancing.

Tobias says it’s a great time to take advantage of the low rates while they last and refinance. With the election on the horizon things could change.

Some homeowners are using the low interest rates to do cash-out refinancing. Tobias explains that home values are coming back up after the recession and homeowners are using their equity to take cash out and payoff consumer debt. Using the low mortgage interest to pay off high interest credit cards is a great way to cut monthly payments.

Home buying continues to be strong. While it often slows down in May, Tobias says it is remaining at a brisk pace.

If someone is looking to stop renting and buy a home, potential buyers should:

Get pre-qualified up front

Find out their buying power

Learn what programs/products are available

Determine where they want to keep their price point

Submit a mortgage application and financials

Undergo a credit check

Once a contract is written and accepted it takes about 30 days to close the loan and get the keys